NEW DELHI, Mar 3: Ansal Properties & Infrastructure (Ansal API) has reduced its net debt by nearly Rs 100 crore during the first nine months of this fiscal to Rs 1,110 crore.
According to an analyst presentation, company’s net debt stood at Rs 1,110.29 crore as on December 31 2012 as compared with Rs 1,208.77 crore at the end of the previous fiscal.
Out of the total net debt, the company said that 52 per cent accounted for project term loans.
On the operational side, Ansal said it has sold 15.70 million sq ft during April-December period of 2012-13 fiscal aggregating to sale value of Rs 2,036 crore and delivered 6.21 million sq ft.
It schieved average realisation of Rs 1,298 per sq ft during first nine months of this fiscal against Rs 1,191 per sq ft in the corresponding period of previous year.
In the presentation, Ansal API said that the company has been successful in getting release of 2.23 crore equity shares of the promoters pledged with financial institutions and banks during April-December period of this fiscal.
This resulted in a decrease of 31 per cent in the shares pledged by promoters. Consequently, the equity shares pledged by promoters have reduced from 77 per cent to 46 per cent.
The company said that it has finalised deal for hiving of its three slow moving projects in Uttar Pradesh and Punjab.
Ansal API had reported consolidated profit of Rs 15.85 crore in the third quarter of this fiscal against a net loss of Rs 21.01 crore in the year-ago period.
The consolidated total income rose by 23 per cent to Rs 277.66 crore during October-December quarter against Rs 226.18 crore from the corresponding period of previous year. (PTI)
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